The United States today, June 25, blacklisted four metallurgical, aluminum and copper smelters operating in the Iranian metallurgical sector, as well as trading agents of Iran’s largest steel producer.
According to the American side, all legal entities and individuals subject to sanctions “bring tens of millions of dollars of profit to the metallurgical industry” of the Islamic Republic, reports Reuters.
The U.S. Treasury Department said on Thursday that it imposed sanctions on Tara Steel Trading GmbH, a German subsidiary of Mobarakeh Steel Co, three merchants from the United Arab Emirates and Iran’s Metil Steel.
According to the American financial department, sales agents “received tens of millions of dollars annually from the sale of Mobarakeh Steel Company products abroad, providing a significant contribution to the billions of dollars generated by the Iranian metallurgical, aluminum and smelting sectors as a whole.”
Mobarakeh Steel Co is the largest producer of sheet metal in the Middle East and North Africa, accounting for 1% of Iran’s gross domestic product, the US Treasury said.
Sanctions freeze any U.S. assets owned by blacklisted companies and prohibit U.S. entities and individuals from having any relationship with them.
“The Iranian regime continues to use profits from metal producers and foreign sales agents to finance destabilizing behavior around the world,” the US Treasury said.
As EADaily reported, Iran rejected on May 21 new US sanctions against several officials and companies of the Islamic Republic, saying that they are a sign of complete inefficiency of Washington’s previous restrictive measures against Tehran. “Washington’s barren and repeated sanctions against Iranian officials are a sign of weakness, despair, and confusion of the US administration,” Iranian Foreign Ministry spokesman Abbas Mousavi told state television.
The United States last month imposed financial sanctions and visa restrictions on 12 Iranian individuals and legal entities. The sanctions included the current Iranian Interior Minister, Abdolreza Rahmani Fazli.
The US government considers him directly involved in the “bloody suppression” of popular protests in Iran in the fall of 2019, which “killed many protesters, including at least 23 minors.” The head of the Ministry of Internal Affairs of the Islamic Republic and his immediate family are prohibited from entering the United States.